Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.
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| Period | Market cap |
|---|---|
| FY2019, ended Dec 31, 2019 | — |
| FY2020, ended Dec 31, 2020 | $41.7B |
| FY2021, ended Dec 31, 2021 | $107B |
| FY2022, ended Dec 31, 2022 | $54.8B |
| FY2023, ended Dec 31, 2023 | $88.1B |
| FY2024, ended Dec 31, 2024 | $82.9B |
| FY2025, ended Dec 31, 2025 | $82.6B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $85.7B |
Revenue
By fiscal year, then the trailing 12 months
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| Period | Revenue |
|---|---|
| FY2019, ended Dec 31, 2019 | $4.81B |
| FY2020, ended Dec 31, 2020 | $3.38B |
| FY2021, ended Dec 31, 2021 | $5.99B |
| FY2022, ended Dec 31, 2022 | $8.40B |
| FY2023, ended Dec 31, 2023 | $9.92B |
| FY2024, ended Dec 31, 2024 | $11.1B |
| FY2025, ended Dec 31, 2025 | $12.2B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $13.2B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.
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| Period | Net income | Free cash flow |
|---|---|---|
| FY2019, ended Dec 31, 2019 | −$674M | $97.3M |
| FY2020, ended Dec 31, 2020 | −$4.58B | −$777M |
| FY2021, ended Dec 31, 2021 | −$352M | $2.29B |
| FY2022, ended Dec 31, 2022 | $1.89B | $3.40B |
| FY2023, ended Dec 31, 2023 | $4.79B | — |
| FY2024, ended Dec 31, 2024 | $2.65B | — |
| FY2025, ended Dec 31, 2025 | $2.51B | — |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $2.69B | — |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.
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| Period | Cash and cash equivalents |
|---|---|
| FY2019, ended Dec 31, 2019 | $2.01B |
| FY2020, ended Dec 31, 2020 | $5.48B |
| FY2021, ended Dec 31, 2021 | $6.07B |
| FY2022, ended Dec 31, 2022 | $7.38B |
| FY2023, ended Dec 31, 2023 | $6.87B |
| FY2024, ended Dec 31, 2024 | $6.86B |
| FY2025, ended Dec 31, 2025 | $6.56B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $6.82B |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.
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| Period | Total debt |
|---|---|
| FY2019, ended Dec 31, 2019 | — |
| FY2020, ended Dec 31, 2020 | $1.83B |
| FY2021, ended Dec 31, 2021 | $2.00B |
| FY2022, ended Dec 31, 2022 | $1.99B |
| FY2023, ended Dec 31, 2023 | $1.99B |
| FY2024, ended Dec 31, 2024 | $2.00B |
| FY2025, ended Dec 31, 2025 | $2.00B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $2.48B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Up 130% since FY19.
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| Period | Shares outstanding |
|---|---|
| FY2019, ended Dec 31, 2019 | 261M |
| FY2020, ended Dec 31, 2020 | 284M |
| FY2021, ended Dec 31, 2021 | 643M |
| FY2022, ended Dec 31, 2022 | 641M |
| FY2023, ended Dec 31, 2023 | 647M |
| FY2024, ended Dec 31, 2024 | 631M |
| FY2025, ended Dec 31, 2025 | 609M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | 599M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.
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| Period | Bought back | Paid to employees | Used in acquisitions |
|---|---|---|---|
| FY2019, ended Dec 31, 2019 | — | $97.5M | $241M |
| FY2020, ended Dec 31, 2020 | $0 | $3.00B | — |
| FY2021, ended Dec 31, 2021 | $0 | $899M | — |
| FY2022, ended Dec 31, 2022 | $1.50B | $930M | — |
| FY2023, ended Dec 31, 2023 | $2.25B | $1.12B | $53.0M |
| FY2024, ended Dec 31, 2024 | $3.43B | $1.41B | — |
| FY2025, ended Dec 31, 2025 | $3.79B | $1.59B | — |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $4.11B | $1.71B | — |
Valuation
At current price- Market Cap
- $101B
- P/E
- 37.6×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 7.7×
- Price / Book
- 13.0×
- EV / EBITDA
- —. (Market cap + debt − cash) / EBITDA (TTM)
Growth
Trailing 12 months- Revenue (TTM)
- $13.2B
- Revenue Growth YoY
- 13.6%
- Revenue CAGR 3Y
- 13.4%
- Revenue CAGR 5Y
- 29.4%
- EPS Growth YoY
- —. Diluted EPS, TTM vs. TTM a year earlier
- Net Income Growth YoY
- 2.5%
Profitability
Trailing 12 months- Gross Margin
- 82.9%
- Operating Margin
- 20.8%
- Net Margin
- 20.4%
- FCF Margin
- —. Free cash flow / revenue
- Return on Equity
- 34.5%
Earnings
Trailing 12 months- Net Income
- $2.69B
- EPS (diluted)
- —
- EBITDA
- —. Operating income + depreciation & amortization
- Operating Income
- $2.74B
Balance Sheet
As of Jun 30, 2026- Cash and cash equivalents
- $6.82B
- Total Debt
- $2.48B
- Net Cash
- $4.34B
- Total Assets
- $28.8B
- Total Liabilities
- $21.0B
- Shareholders' Equity
- $7.80B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $4.86B
- Capital Expenditure
- —
- Free Cash Flow
- —. Operating cash flow − capital expenditure
Dividends and risk
Last 12 months- Dividend Yield
- 0.0%
- Dividend / Share
- $0.00
- Beta (5Y)
- 1.23
Every ratio is calculated from the company’s reported figures.